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Diko privacy cryptocurrency set for 11 March launch on Ethereum blockchain

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Diko, a novel privacy-based cryptocurrency is set to go live on the Ethereum blockchain on March 11 2020. The digital currency allows people to send funds anonymously and simply via email just like PayPal.

Diko is creating 20 million tokens via smart contract

Diko is developing its own blockchain that will facilitate secure and confidential transactions. They will also create a native cryptocurrency named DIKO coin for use in all transactions on the platform.

While their blockchain is under development, the team behind the anonymous cryptocurrency has decided to issue DIKO tokens on the Ethereum Blockchain. The DIKO token is an ERC20 token that works in the same way as it facilitates secure anonymous transactions via email. A total supply of 20 million DIKO tokens will be created via the smart contract that goes live on 11 March.

The motivations behind Ethereum-based DIKO Token

The decision to initially launch on Ethereum before migrating to an own blockchain is motivated by the desire to make the transformative technology publicly available soonest possible. Development of an entire blockchain is time consuming and expensive. The process itself may be quite challenging due to technicalities and complexity of blockchain development. These issues can result in lengthy delays and cost overruns that may impede the timely completion and launch of this much-needed technological innovation. In the quest for protecting people’s privacy, time is of the essence.

The Diko team understands there is need to move with speed in the provision of solutions that promote confidentiality and guarantee protection of people’s privacy in financial matters. That is why the team has decided to provide their solution initially on the Ethereum blockchain as they build their own blockchain.

This decision serves the following purposes.

  1. People do not have to wait any longer to be able to send money anonymously via email. They can use the Ethereum based Diko token which is publicly available with the same capabilities as the Diko blockchain.
  2. The development team gets enough time to build the blockchain and underlying payment system infrastructure. This will enable the creation of a solid and viable platform due to the reduced pressure of racing against time.
  3. The Ethereum-based platform will serve as a reliable reference point for gathering insights, feedback, and ideas while in the building process. The development team can study the usage data, conduct risk assessment, explore vulnerabilities and observe user preferences among others. These exercises can provide highly valuable information for improving the service and user experiences.

Ethereum-based solution is a placeholder

The Diko team is implementing their infrastructure on the Ethereum blockchain due to the ease of building application on the network through smart contracts. The smart contract has similar technological features as the Diko blockchain centered on the Zero Knowledge Proof (ZKP) system. This will ensure retention of all the capabilities and maintaining Diko’s strong dedication to achieving confidentiality for financial transactions. They remain committed to delivering a platform that not only supports anonymous transactions but also one that keeps user data safe and secure.

Diko’s long-term goal is to run the anonymous transactions platform its own blockchain. Therefore, all users and transaction details will be transferred to the Diko blockchain once its development is completed.

DIKO ICO

The project is planning to conduct an Initial Coin Offering (ICO) to raise funds for development, marketing, and support activities for the platform. The ICO will run through from April 1st to November 1st 2020 with the aim of selling 10,500,000 DIKO tokens. The price for each token is $2.62. The funds obtained from the ICO will facilitate the development, marketing, and operations of the Diko blockchain.

Grab this opportunity and be among the first to get on board this game changing initiative.

For more details and updates about the Diko project visit https://www.dikocoin.com/

 

The post Diko privacy cryptocurrency set for 11 March launch on Ethereum blockchain appeared first on coinweez.

Source: https://coinweez.com/diko-privacy-cryptocurrency-set-for-11-march-launch-on-ethereum-blockchain/?utm_source=rss&utm_medium=rss&utm_campaign=diko-privacy-cryptocurrency-set-for-11-march-launch-on-ethereum-blockchain

Blockchain

BTC Price Analysis: September Monthly Candle Likely Close In Red, How Bad Is It For Bitcoin?

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September has never been a particularly great month for Bitcoin’s price historically, and this year has cemented that fact.

Assuming prices will remain where they are at the close, Bitcoin prices will be down 7.5% from the monthly open. Last year during September, the asset fell 13.5% and the year before that it was down 5.96%.

In spite of this, however, the leading crypto could possibly end the quarter with the second-highest close ever if it can stay above $10,590 – according to data from Skew.

While it’s highly unlikely we’ll see it break the current all-time high from Q4 of 2017 at $13,660 this time around, we are about to enter into one of Bitcoin’s better-performing months which might just give us that new yearly high we’ve all been hoping for.

Bitstamp BTC/USD 4-Hour Chart

bitcoin price
BTC/USD chart via Tradingview

BTC Price Levels to Watch in the Short-term

On the 4-hour BTC/USD chart, we can see that Bitcoin’s price still remains inside the rising channel (orange) and has recently returned to the lower channel support at $10,680 following a sharp rejection at the weekly open resistance ($10,780).

This particular price point is also being reinforced by the 200-EMA, which will make this level even more difficult to break in the short-term.

The median line of the channel (dashed white line) will now likely act as a temporary resistance as bullish traders attempt to recover from the dip.

Looking further down, if selling momentum continues to rise over the next few candles we could see BTC get kicked out of the channel. In that event, the $10,570 level may create a reaction as it has acted as both a support and resistance in the last 9 days. Right under that, we also have the much-larger channel support (yellow) which should halt any further decline (for now).

Over the short-term, we should wait until BTC prints a new higher high above $10,780 and the daily open at $10,839 before assuming the intra-week trend has turned bullish.

Total market capital: $348 billion

Bitcoin market capital: $198 billion

Bitcoin dominance: 57.0%

*Data by Coingecko.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/btc-price-analysis-september-monthly-candle-likely-close-in-red-how-bad-is-it-for-bitcoin/

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Bitcoin Mimics Wall Street and Climbs Above $10,800 as Altcoins Rejoice (Market Watch)

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Despite briefly dipping to $10,660, Bitcoin has slightly increased in value since yesterday and trades above $10,800. At the same time, Ethereum has spiked by about 2% to above $360, while more volatility is evident from lower and mid-cap altcoins.

Bitcoin To Above $10,800

After an unsuccessful attempt to conquer $10,800 yesterday, Bitcoin headed south and bottomed at about $10,660. However, the bulls intercepted the brief price dip and didn’t allow further declines.

Just the opposite, BTC started accelerating again and reached its intraday high of $10,850 (on Binance). Although the asset has decreased slightly, it’s still about 1% up on a 24-hour scale, and it hovers around $10,800.

From a technical standpoint, Bitcoin has to overcome the first resistance at $10,840 before heading towards the psychological level at $11,000. Alternatively, the primary cryptocurrency could rely on $10,680, and $10,570 as support in case of a price breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Bitcoin’s increase seems to be a correlation with the US stock market. The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all closed yesterday’s trading session with about 1% gains.

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However, gold demonstrated untypically high volatility. The precious metal spiked from $1,880 to $1,900, dropped back down and repeated the move once again in a matter of hours. On a 24-hour scale, though, gold has decreased by about 0.5%.

Ethereum Rises Above $360, Cardano Back To Top 10

Ethereum has finally increased above $360 after a near 2% jump. Ripple and Bitcoin Cash marked minor gains and are situated approximately at the same levels as yesterday – $0.241 and $228, respectively.

The most impressive performer from the top ten is Cardano. By increasing with 5% to over $0,10, ADA has actually surpassed Crypto.com Coin for the coveted 10th spot.

Cryptocurrency Market Overview. Source: coin360.com
Cryptocurrency Market Overview. Source: coin360.com

Monero is the only top 20 coin that has surged by a double-digit percentage. XMR has jumped by 12% and trades at $110. On a weekly scale, Monero is up by 25%.

Further double-digit price increases come from lower and mid-cap altcoins. DigiByte leads by a 16% surge, Maker (13%), Zcash (11%), Swipe (11%), DFI.Money (11%), Algorand (10.5%), and Zilliqa (10%) follow.

On the other hand, The Midas Touch Gold has lost the most value since yesterday – 15%. THETA (-7%), Hyperion (-6.5%), Energy Web Token (-5.5%), and Uniswap (-4.5%) follow.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-mimics-wall-street-and-climbs-above-10800-as-altcoins-rejoice-market-watch/

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Ethereum 2.0 Genesis in Final Stages of Testing After ‘Dress Rehearsal’

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A final series of testnets has been activated for the Beacon Chain stage of Ethereum’s Serenity roadmap, but one called ‘Spadina’ has been a failure. This has set the stage for the next testnet called ‘Zinken.’

Spadina Failed on Finality

The three-day Spadina testnet was one of the final dress rehearsals for the real thing, according to developer Danny Ryan. Unfortunately, the test proved to be problematic with several errors reported with configuration, bootnodes, and calculations;

Ryan added that low participation was expected on this short-lived testnet, which resulted in escalating errors in the client release process.

In a document highlighting the test failure, he added that Prysm, the most popular Ethereum client on the testnet, was not updated to properly support Spadina. Additionally, it stated that there were low values for chain participation, with only 3,400 active validators, according to spadina.beaconcha.in, and many of them being offline at the launch of the test.

“The issue with finality was not a critical bug nor a consensus error, but rather something due to configuration parameters which can be fixed with a release,”

Prysmatic Labs developer Raul Jordan did not see the ‘failure’ of Spadina as a setback but more of a learning experience.

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Bring on Zinken

The next testnet called Zinken will be launched on Monday, Oct.12, according to this Reddit post. The Zinken testnet will support Prysm, Lighthouse, Teku, Nimbus, and Lodestar clients. When asked how many more testnets there will be, the announcement on the r/ethstaker channel added;

“As many as it takes to make sure everything is working exactly as expected. We think there’s an excellent chance that this is the final testnet.”

Ryan added that he personally will not consider low participation on Zinken a failure, but is looking for a ‘clean client release process and minimal headaches for users.’

The Medalla testnet is also still running and has accumulated over 2 million simulated ETH, or Göerli testnet Ethereum, staked on the blockchain, according to beaconcha.in. There are now almost 65,000 validators with the U.S. and Germany, accounting for 57% of them. In terms of client dominance, Prysm accounts for 98% of the testing.

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Source: https://cryptopotato.com/ethereum-2-0-genesis-in-final-stages-of-testing-after-dress-rehearsal/

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